Polar Asset Management Partners Inc. Takes $26.71 Million Position in Fiserv, Inc. (NYSE:FI)

Polar Asset Management Partners Inc. purchased a new position in Fiserv, Inc. (NYSE:FI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 130,000 shares of the business services provider's stock, valued at approximately $26,705,000.

A number of other hedge funds have also modified their holdings of the company. Challenger Wealth Management bought a new position in shares of Fiserv in the fourth quarter worth approximately $205,000. Ascent Group LLC increased its stake in Fiserv by 5.5% in the 4th quarter. Ascent Group LLC now owns 27,679 shares of the business services provider's stock worth $5,686,000 after buying an additional 1,443 shares during the period. Putney Financial Group LLC purchased a new position in Fiserv in the 4th quarter worth about $164,000. Perennial Advisors LLC bought a new position in Fiserv during the 4th quarter worth about $15,373,000. Finally, AlphaCore Capital LLC bought a new position in Fiserv during the 4th quarter worth about $291,000. 90.98% of the stock is currently owned by institutional investors.

Fiserv Price Performance

Shares of FI stock traded down $1.41 on Thursday, hitting $159.33. 8,233,576 shares of the company's stock were exchanged, compared to its average volume of 3,133,024. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.06 and a quick ratio of 1.07. The stock has a market cap of $88.34 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 1.52 and a beta of 0.97. Fiserv, Inc. has a 12 month low of $146.25 and a 12 month high of $238.59. The company has a 50 day moving average of $193.59 and a 200 day moving average of $207.93.

Fiserv (NYSE:FI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The business services provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.06. The firm had revenue of $4.79 billion during the quarter, compared to analysts' expectations of $4.86 billion. Fiserv had a return on equity of 17.93% and a net margin of 15.31%. The company's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. On average, equities research analysts predict that Fiserv, Inc. will post 10.23 EPS for the current year.

Fiserv announced that its Board of Directors has authorized a stock buyback program on Thursday, February 20th that authorizes the company to buyback 60,000,000 outstanding shares. This buyback authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Fiserv

In other Fiserv news, EVP Andrew Gelb sold 5,652 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $160.00, for a total value of $904,320.00. Following the completion of the sale, the executive vice president now owns 25,385 shares in the company, valued at approximately $4,061,600. This trade represents a 18.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam L. Rosman sold 2,512 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $160.68, for a total value of $403,628.16. Following the transaction, the insider now directly owns 53,385 shares of the company's stock, valued at approximately $8,577,901.80. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

Analysts Set New Price Targets

FI has been the subject of several research analyst reports. UBS Group decreased their price objective on shares of Fiserv from $255.00 to $225.00 and set a "buy" rating for the company in a research report on Wednesday. Morgan Stanley reissued an "overweight" rating and set a $268.00 price target (up previously from $267.00) on shares of Fiserv in a research report on Friday, April 25th. Stephens upped their target price on shares of Fiserv from $255.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Citigroup cut their price target on shares of Fiserv from $267.00 to $240.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Royal Bank of Canada set a $237.00 price target on Fiserv in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $221.84.

About Fiserv

Fiserv, Inc, together with its subsidiaries, provides payments and financial services technology services in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally. It operates through Merchant Acceptance, Financial Technology, and Payments and Network segments.